Drug maker Wockhardt has returned to profitability in the fiscal fourth quarter, reporting a net profit of Rs 48 crore as compared to a net loss of Rs 15 crore in the corresponding quarter last year.
The company’s Ebitda remained largely flat at Rs 37 crore as against Rs 34 crore in the fourth quarter last year. Ebitda margin expanded to 4.6% from 3.5%.
The company’s R&D as a percentage of sales fell to 5.4% from 7% last year.
The company’s India business saw a de-growth compared to last year, owing to lower sales in the Quality Generics division, the company said in an exchange filing.
The board has also approved raising funds up to Rs 1,500 crore via equity shares, equity linked securities, QIP or any other combination thereof.
Shares gained as much as 5.2% to Rs 266.6, post the announcement.
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.